Понедельник, 28 Мая, 2018

TCS net slips 1.8% in 2017-18

Rajesh Gopinathan is the CEO and MD of Tata Consultancy ServicesImage Danish Siddiqui  Reuters Rajesh Gopinathan is the CEO and MD of Tata Consultancy ServicesImage Danish Siddiqui Reuters
Nicole Thomas | 20 Апреля, 2018, 05:11

"Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note", Rajesh Gopinathan, CEO and MD of TCS said commenting on the earnings.

Strong revenue growth and higher other income (up 13.7 percent QoQ) boosted profitability.

Operating margins also improved by 20 basis points over the preceding quarter to 25.4 per cent. On a sequential basis, the net profit rose by 5.71 per cent from the December 2017 quarter. Revenue rose to almost $5 billion, a 2% growth sequentially in constant currency (which discounts the impact of cross currency fluctuations) and 11.7% year-on-year growth in reported currency.

The firm is seen logging earnings before interest and tax (EBIT) margin estimate at 25.5% (+30 bps QoQ), led by currency benefits.

"As our customers move forward in their Business 4.0 journeys, we are helping them leverage digital technologies to drive growth and transformation agendas", said Gopinathan.

Digital revenue growth was 10.2 percent in constant currency terms QoQ. It was impacted due to higher employee expenses and selling, general and administration cost.

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TCS said growth in Q4 was led by energy & utilities and travel & hospitality verticles, which reported 33.7 per cent and 25.4 per cent growth respectively.

Overall, Continental Europe grew 19.1 per cent, United Kingdom grew 10.7 per cent, while the Asia-Pacific market registered a 8.6 per cent growth for the IT services firm. North America revenue grew 4.9 percent YoY. "The multiple mega-deals that we won this year are evidence that TCS is their preferred partner in such strategically important initiatives", he further said. The board of directors also recommended a 1:1 bonus share issue.

TCS has given average 2-6 per cent wage hikes for 2018-19, effective April 1. Total dividend for the year including final dividend stood at Rs 50 per share.

With net addition of 4,118 techies in Q4 and 7,775 for the fiscal, the company's headcount increased to 3,94,998 at the end of March 31 from 390,880 quarter ago and 387,223 year ago. "At an overall level, the focus on training resulted in over 5.6 million learning days in FY18, over 247,000 employees getting trained on digital technologies, and 2,08,000 employees trained on Agile methodologies".

The company reported a revenue growth of 8.2 per cent at Rs 32,075 crore for the said quarter, up from Rs 29,642 crore a year earlier.

TCS said on Thursday, revenue from its banking, financial services and insurance business, the company's biggest revenue stream, rose five percent to 124.30 billion rupees ($1.89 billion). The year as a whole was lacklustre, with constant currency growth at just 6.3%, its second successive year of single digit growth and the slowest in almost seven years.

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